2023

ASSAIGNMENT # 01

Course:-
MGT501 Strategic Management

Submitted To:
Sir Waseem Abbas

Group Members:
Adan Farooq FA20-BBA-025
Tayyaba Fiaz FA20-BBA-064
Noor-Ul-Saba FA20-BBA-060
Maqsood Alam FA20-BBA-050
Mian Faisal Ramzan SP20-BBA-006
Ali Raza SP20-BBA-030
Mavia Saleem FA19-BBA-038
Asad-Ullah SP19-BBA-023

COMSATS University Islamabad

Vehari Campus
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Assignment Topics:

 Global competitiveness
 Economic growth
 Resource allocation
 Political and economic uncertainty
 Public Reform Sector
 Infrastructure development
 SME Development
 Sustainability and Environmental Concerns
 Pakistani institutes
 Education and skill development
 Long term sustainability
 Goal alignment
 Enhancing quality
 Risk Management
 Innovation and technology integration
 Measuring KPIs

How much and why there's a need of Strategic Management in Pakistan and
Pakistani institutes?

Why there's a need:-

There's a great need of strategic management in Pakistan and Pakistani institutes because
as the world is continuously changing and competition is very high. So strategic management
plays a vital role in maintaining a competitive global edge, best ways for resource allocation and
optimization, gives the company a long-term vision, better ways for risk management,
international collaborations, accountability and performance measurements and cover many
other areas. Due to strategic management, Pakistan and it's any kind of institute not only perform
well but also strive in its way.

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 Adan Farooq

Need:-

Global competitiveness:
There's a great need of strategic management in global competitiveness of Pakistan as by
this we'll have a clear view of markets and easily identify promising market, we'll come to know
the best innovative technologies, tells us how to be cost efficient and achieve economies of scale,
to get benefits from export promotions which opens up the doors for new markets, helps in
building strong brand image which will attract international customers, can have quality
assurance by quality management systems which leads products at a standard level, most
importantly gives us the opportunity of global supply chain integration and others which will
help Pakistan to compete on a global scale.

Economic growth:-
There's a huge need of strategic management in economic growth. It will help in
identifying and prioritizing key sectors which leads to focusing on industries with competitive
edge, in human capital development, in environmental sustainability which promotes sustainable
practices in different areas, leverage public-private partnerships which leverage private
investments, in regional development by investing in under developed region, in financial
planning and others which will be environmentally, socially, and economically sustainable in the
long run.

Tayyaba Fiaz

Resource allocation:
Strategic management plays a crucial role in allocating limited resources efficiently, even
in countries with resource constraints like Pakistan. Here's an overview of how it can be applied:

Begin by identifying and assessing the available resources in Pakistan. This includes natural
resources, human capital, financial assets, and infrastructure.

Setting Priorities:

Strategic management helps in setting clear priorities. Pakistan might prioritize sectors
like agriculture, textile, and IT due to their potential for growth and job creation.

SWOT Analysis:
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 Conduct a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis to
understand Pakistan's internal strengths and weaknesses and external opportunities and threats.
This informs resource allocation decisions.

Resource Allocation Models:

Implement resource allocation models that align with the strategic priorities. For
example, allocate funds and incentives to sectors that align with the country's long-term
economic and social development goals.

1) Risk Management:

Assess the risks associated with resource allocation decisions. In a constrained

environment, it's crucial to minimize risks associated with resource misallocation.

2) Public-Private Partnerships:

Leverage partnerships with the private sector to maximize resource utilization. This can
include infrastructure projects, healthcare, and education initiatives.

3) Innovation and Technology:

Invest in innovation and technology to make the most of limited resources. Embracing
advancements in agriculture, renewable energy, and manufacturing can lead to resource-efficient
growth.

4) Capacity Building:

Focus on developing the skills and capabilities of the workforce. A skilled labor force can
maximize the utilization of available resources.

5) Monitoring and Evaluation:

Continuously monitor and evaluate the impact of resource allocation decisions. Adjust
strategies as needed to ensure efficient resource utilization.

6) Sustainable Development:

Prioritize sustainable practices to ensure the long-term availability of resources. This

includes environmental conservation and responsible resource management.

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Political and economic uncertainty:
Mitigating risks associated with political instability and economic uncertainty in Pakistan
through strategic management involves several key considerations:

1) Scenario Planning:

Strategic management should begin with a thorough analysis of potential political and
economic scenarios. By identifying various possible outcomes, organizations can develop
strategies to adapt to different situations, ensuring they are not caught off guard.

2) Diversification:

Diversifying operations and investments across different regions or industries can reduce
the impact of economic fluctuations or political instability in Pakistan. This strategy can help
spread risks and provide stability during uncertain times.

3) Government Relations:

Building and maintaining positive relationships with government authorities can be

crucial. This can involve engaging in dialogue with policymakers, complying with regulations,
and contributing to the local community to gain political support and stability.

4) Market Research:

Continuous market research allows organizations to monitor economic trends and

political developments. Being well-informed about changes in policies, trade regulations, and
market conditions enables quicker responses to potential risks.

5) Risk Assessment and Contingency Planning:

Identifying specific risks associated with political instability (e.g., regulatory changes,
civil unrest) and economic uncertainty (e.g., inflation, currency devaluation) is essential.
Developing contingency plans for each potential risk helps organizations respond swiftly and
effectively.

6) Financial Resilience:

Maintaining strong financial health, with a focus on cash reserves, can provide a buffer
against economic downturns. It allows organizations to weather economic uncertainty and
continue operations during challenging times.

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 7) Supply Chain Optimization:

Ensuring a resilient and flexible supply chain can help mitigate the impact of political and
economic disruptions. Identifying alternative suppliers and logistics options can be critical.

8) Talent Management:

A skilled and adaptable workforce can be a significant asset during uncertain times.
Investing in employee training and development can enhance the organization's ability to
navigate challenges.

9) Ethical Business Practices:

Adhering to high ethical standards in all business operations can help build trust and
credibility, which is valuable in politically unstable environments.

10)Legal Expertise:

Having legal expertise on the team or access to legal counsel is essential for
understanding and complying with local laws and regulations, thereby minimizing legal risks.

11)Strategic Alliances:

Forming strategic partnerships or alliances with local businesses or international firms

can provide support and resources during periods of uncertainty.

12)Cybersecurity and Data Protection:

Protecting sensitive data from cyber threats is crucial. A breach can have severe legal,
financial, and reputational consequences.

Incorporating these strategies into the overall strategic management plan can help
organizations mitigate risks associated with political instability and economic uncertainty in
Pakistan or any other similarly challenging environment. It's essential to remain agile and
adaptive, regularly revisiting and adjusting strategies as the situation evolves.

Mian Faisal Ramzan

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Public Sector Reform:
Several steps can be taken to improve the institution of public sector reform in
Pakistan:

1. Strengthening Governance:
Enhancing transparency, accountability and integrity in the public sector by
implementing strong anti-corruption measures, promoting merit-based appointments and
ensuring effective monitoring mechanisms.

2. Capacity Building:
Invest in training and development programs to enhance the skills, knowledge and
expertise of public sector employees. This will enable them to better understand and implement
reforms.

3. Streamlining processes:
Simplify bureaucratic procedures and eliminate unnecessary red tape to make the public
sector more efficient and accountable. This can be achieved by digitizing processes, adopting e-
governance initiatives, and promoting automation wherever possible.

4. Performance management:
Establish clear performance indicators and targets for public sector organizations, and
regularly monitor and evaluate their performance. Recognize and reward high performing
individuals and organizations while addressing any deficiencies through appropriate measures.

5. Financial Management:
Improve financial management practices by implementing strong budgeting and cost
control procedures. This includes ensuring timely and accurate financial reporting, enhancing
internal control, and promoting efficient use of public resources.

Infrastructure Development:
Several important steps can be taken to promote infrastructure development in Pakistan's
institutions:

1. Investment in infrastructure:

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 Increase public and private investment in infrastructure projects such as transport, energy,
water supply and telecommunications. This will help improve the overall connectivity of the
country and provide a solid foundation for economic growth.

2. Planning and Prioritization:

Develop a comprehensive national infrastructure development plan that identifies priority
areas and projects based on their potential economic impact and social benefits. This will ensure
that resources are allocated efficiently and effectively.

3. Public-Private Partnerships:
Encourage partnerships between the public and private sectors to finance and implement
infrastructure projects. PPPs can attract private investment, expertise and innovation by sharing
risks and responsibilities between the two sectors.

4. Innovative financing mechanisms:

Explore innovative financing mechanisms such as infrastructure bonds, infrastructure
funds, and mobilizing resources through international partnerships. This can help bridge the
financing gap and attract investment for infrastructure development.

Ali Raza

SME Development:
Strategic management plays a crucial role in benefiting small and medium-sized
enterprises (SMEs) in Pakistan and contributing to their growth in several ways:

1) Long-term Vision:

Strategic management helps SMEs in Pakistan establish a clear long-term vision and
mission. This ensures that the company is working towards well-defined goals, which can be
essential for sustained growth.

2) Competitive Advantage:

By conducting a thorough analysis of their internal strengths and weaknesses, as well as

external opportunities and threats, SMEs can identify their competitive advantage. This allows
them to focus on areas where they can excel and gain an edge in the market.

3) Resource Allocation:

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 SMEs often have limited resources. Strategic management helps them allocate these
resources efficiently, ensuring that they are invested in areas that align with the company’s
strategic objectives. This prevents wastage and optimizes resource utilization.

4) Adaptation to Change:

In a dynamic business environment like Pakistan, SMEs need to adapt to changing

market conditions. Strategic management provides the framework for monitoring the external
environment and making necessary adjustments to strategies in response to market shifts.

5) Financial Management:

Effective strategic management involves financial planning and budgeting. This helps
SMEs in Pakistan manage their finances more prudently, ensuring they have the capital
necessary for growth initiatives.

6) Customer Focus:

Strategic management encourages SMEs to understand their customers’ needs and

preferences better. This customer-centric approach can lead to improved products and services,
customer retention, and increased market share.

Sustainability and Environmental Concerns:

Strategic management plays a crucial role in addressing environmental challenges and
promoting sustainable practices in businesses, including those in Pakistan. Here are several key
strategies and approaches:

1) Environmental Auditing and Assessment:

Businesses can begin by conducting environmental audits to assess their current

environmental impact. This includes evaluating energy consumption, waste generation, and
resource use. These assessments help in identifying areas where improvements can be made.

2) Setting Environmental Goals:

Strategic management involves setting clear, measurable, and time-bound environmental

goals. Pakistani businesses can aim to reduce carbon emissions, minimize waste, or increase the
use of renewable energy sources. These goals should align with international sustainability
standards and local regulations.

3) Stakeholder Engagement:

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 Engaging with stakeholders, including government agencies, local communities, and
environmental organizations, is essential. Businesses can collaborate with these groups to
develop sustainable initiatives and ensure compliance with environmental laws and regulations.

4) Investing in Green Technologies:

Strategic management should involve investments in green technologies and

innovations. This might include adopting energy-efficient equipment, implementing renewable
energy solutions, or improving water and resource management.

5) Employee Training and Engagement:

Employees should be trained in sustainability practices and encouraged to participate in

eco-friendly initiatives. Their involvement can lead to innovative ideas and a culture of
sustainability within the organization.

6) Measuring and Reporting Progress:

Metrics and key performance indicators (KPIs) should be established to track progress
toward sustainability goals. Regular reporting to stakeholders, including shareholders and
customers, demonstrates transparency and commitment to sustainability.

In summary, strategic management can be a powerful tool for Pakistani businesses to

address environmental challenges and promote sustainable practices. By integrating
sustainability into their core strategies and operations, businesses can contribute to a greener
future while also improving their competitiveness and resilience in a changing business
landscape.

Noor–Ul-Saba

Competitive Advantage:
Strategic management plays a crucial role in helping Pakistani institutes, like businesses,
universities, or research organizations, gain a competitive edge in a globalized world. Here are
several ways in which strategic management can benefit these institutes:

1. Vision and Mission Development:

Strategic management helps Pakistani institutes define their vision and mission. A clear and
inspiring vision can unite the organization’s efforts and set the direction for its activities on a
global scale.

2. SWOT Analysis:

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 Conducting a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis helps
institutions identify their internal strengths and weaknesses, as well as external opportunities and
threats. This information informs strategic decisions and allows them to build on strengths and
mitigate weaknesses.

3. Global Market Assessment:

Strategic management involves analyzing global markets and identifying where the institute
can have a competitive advantage. This could involve assessing demand for educational
programs, research opportunities, or other services internationally.

4. International Partnerships:
Developing strategic alliances and partnerships with global institutions, businesses, or
governments can open doors to funding, research collaboration, and access to a broader pool of
talent and resources.

5. Resource Allocation:
Strategic management helps in allocating resources efficiently. It ensures that financial, human,
and infrastructure resources are directed toward activities that align with the institute’s global
objectives.

Education and Skill Development:

Strategic management is of paramount importance in shaping educational and skill
development policies in Pakistan to meet the evolving needs of the workforce. Here’s why it is
crucial:

1. Alignment with Economic Goals:

Strategic management helps ensure that educational and skill development policies are
aligned with the country’s economic goals. It enables policymakers to identify the sectors
and industries that are critical to Pakistan’s growth and develop educational programs that
supply the necessary skills.

2. Anticipation of Future Skills:

Through strategic planning, policymakers can anticipate the future skills demanded by
evolving industries and technologies. This foresight allows them to develop relevant
educational programs and training initiatives.

3. Resource Allocation:

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 Strategic management assists in efficient resource allocation. It helps allocate budgetary
resources to areas of education and skill development where they are most needed, ensuring
that limited resources are maximized.

4. Global Competitiveness:
Strategic policies aim to make the Pakistani workforce globally competitive. This involves
recognizing international certifications, encouraging cross-border collaborations, and
fostering a global perspective in education.

5. Economic Resilience:
A well-educated and skilled workforce contributes to economic resilience. It helps Pakistan
withstand economic shocks by having a diverse range of skills that can be applied across
various sectors.

6. Global Trends in Education:

Keeping abreast of global trends in education and skill development is vital. Strategic
management enables policymakers to benchmark against successful international models and
adapt best practices.

Mavia Saleem

Risk Management:
To manage risk through strategic management, organizations in Pakistan can:

 Identify risks.
 Assess risks.
 Develop mitigation strategies.
 Monitor and review.
 Align with overall strategy.
 Communicate and train.

By doing these steps, organizations can effectively manage risks and ensure business success in
Pakistan.

Enhancing Quality:

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 When it comes to enhancing quality through strategic management, organizations in
Pakistan can:

 Establish quality objectives aligned with overall goals.

 Implement effective quality control systems and processes.
 Continuously improve operations and streamline workflows.
 Prioritize customer satisfaction and meet their expectations.
 Engage and empower employees to contribute to quality improvement.
 Foster a culture of learning and innovation.
 Regularly assess and monitor quality performance.
 Stay updated with industry standards and best practices.

By incorporating these practices into their strategic management approach, organizations can
elevate the quality of their products or services in Pakistan.

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